Moody's Trims Qwest's Rating Again
As Telecom Credit Crunch Continues

NEW YORK -- Moody's Investors Service cut its credit rating on Qwest Communications International Inc. for the second time in less than three weeks, this time to one level above junk status.

The downgrade, which also follows recent downgrades by Standard & Poor's and Fitch Ratings, comes amid a credit crunch for telecommunications companies that has hit the Denver local and long-distance company particularly hard in recent weeks....